Charty Registratlon No. SC017286 (Scotland)
Company Reglstratlon No. SC165677 (Scotl8ndl
VOLUNTARY ACTION SHETLAND
A COMPANY LIMITED BY GUARANTEE
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026

VOLUNTARY ACTION SHETLAND
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
M Flaws IChairperson}
V Niwlson
L Tulloch IVi¢e Chairperson}
I Webb
B Wlcock
M Brill
Secretary and Exo¢Utlve OfflGgr
L Tulloch
Charity number (Scotlandl
SC017286
Company numbor
SC165677
Rfjgistered offlce
Market Hous8
14 Market Street
Lerwbck
Shetland
ZE1 OJP
Audltor
A.J.B. Scholes Ltd
st olafs Hall
Church Road
Lerwiek
Shetland Isles
ZE1 OFD
Bankers
Bank of Scottand
117 Commeraal Street
Lerwick
ZE1 ODL

VOLUNTARY ACTION SHETLAND
CHAIRPERSON'S REPORT
FOR THE YEAR ENDED 31 MARCH 2026
Vvelcome lo the Voluntary Action Shelland IVAS) Annual Report 2025126. Once again, l am amazed at the
amount of work that the staff have carried out lo support the voluntary sector of our community.
More and more charities and Community groups are using VAS for support, advlc* and information lo ensure
their organisations are run effectively and govemed well.
Our annual Saltire Awards Ceremony has highlighted that young people are doing increased amounts
volunteering, helping others and making a positive impact In their communities. The number of awards increased
from 164 in 2024 10 185 in 2025 wth young people supporting their l(Kal clubs and communities all the way from
the South Mainland Swmming Club lo the Uyeasound Hall.
Our Chief Executive along wth other Third Sector and Slalutory Leaders attendod events last year on th8
mainland with a key agenda of Wthole Family Support. WO￿l￿g Together To Get It R￿hr. John Swnney MSP,
the Fitst Minister for Scotland, sel out his vision for whole family support and gave his commitment towards
working together to remove all barriers to make this happen. VAS is workin9 hard wf(h partner5 to support Third
Sector's increased collaborati¢)n with ststutory partners to work better together for positive outcomes for those in
our community.
I hope you enjoy reading mole about our work over the last 12 months in thi5 report. None of the work in our
annual report would be possible without our hard-working staff and funders who each year see Ihe benefits of
VAS and keep supporting us, thank you for your continued investment.
I would also like to sincerely thank our Board Members for giving up their time lo attend board meetings,
ensuring that the staff have the necessary finan¢05 and resour￿ to cary out Ihoir duties in supporttng charitles
and community groijps. Thank you all.
Magnus Flaws- Chairperson
28 July 2026

VOLUNTARY ACTION SHETLAND
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2026
Th9 trustees, refer￿d lo as 'director8', ar8 pleased to present their annual directors, report together with the
rinancial slalements of the charity for the year ending 31 March 2028, which are also prepared to meet the
requirements for a directors, report and accounts for CompaniesAcl purposes.
The financial statements compty wlh the ChaTities and Trustee Investment Iscolland) Act 2005, the Charfties
Accounts {Scollandl Regulations 2006 las amended), the Companies Act 2006. the Memorandum and Artides ol
Association, and Accounliro and Reporting by Charities: Slaement of Recommended Prath"ce applicable to
charities preparing their accounts in accordanc8 with the Financjal Reporting Standard applicable in the UK and
Republic of Ireland {FRS 1021 las amended for accountlng periods comm9nGing from 1 January 2019}-
ObJecUvos and actlvltles
The company's objects and principal activities are..
To promote any charitable purposes for the benefit of the inhabitants of Shetland and in particular the
advancement of education, and ￿rtheranC? of health and the rellef of povety, distress and slckness.
To promote and organise co.operatson in the achievement of the above purposes and to that bring
together in Counal representatives of the slatLrtory a￿horitieS and voluntary organisallons engaged in
the furth8rance of the above purposes or any of them wthin Shetland.
To do all other things as will properfy attain the above purposes.
The VISION for Voluntary Adion Shetland is..
A Strong, Su$talnable and Valued A88•t for Shètland, playlng a loading rol• in Champlonlng and
Supportlng Communlty Needs.
The MISSION is..
To Support. Rgprtsent and Develop Communlty and Voluntary Actlon In Sh•tland.
Delivered through CORE Activty..
To be a Contral Sourco of Knowlodge- About the Third Sector locally,. about local and national policy
and how it might affect l¢xal Third Sector and Volunteers,. And how the Third Soctor can contribute to
those agendas
To be th• Volce
Ensurin9 a Strong Third Sector Voice 31 strategic level wlhin Local Plannlng
Structures and Nationally
To Build Capacity- Developing the capacty of volunteerin9, community groups, voluntsry ¢yganisation
and Soual enterprise lo achieve positive change
To Connect- Providing leadership, vision and CCtrordinati¢Jn lo the local third sector lo better respond to
local priorities, including through partnership and collaboration
In Partnershi
th the Shetland Partnershi
Partiupation
People
Plan..
Place
Money
To achieve Ke
Outcomes..
Voluntary Action
A proactive,
Shetland is
respected board
renowned as an
people want lo join
exemplar m¢xlel for
the Sector
Highly regarded in
the Community and
wth Stakeholders
Making a tsngible
difference to the
Third Seetor in
Shetland
Taking action to
Target Emissions In
line with Net Zero
Our Guidin
Values will ensure we are..
Inspiring
Leading
Collabor81ive
Sustainable

VOLUNTARY ACTION SHETLAND
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Voluntsers
During the year the charity was dependent on volunteers for the continued proviwon of one of thew t1irecl delivery
projects.. The Shetland Befriending Scheme. Volunteer befrienders provided 1".1 support to support ehildron,
young people and adults in the community. VAS also has a volunteer handyperson lo support with on-going
Mart(et House activty.
A total of 30 volunteers contributed towards the lolal volunteer hours for the year of 1.714. Tho estimated
monfylary value of this is £23,053 based on the Real Living Wage- £13.45 per hour.
Last year VAS Volunteering had 594 enquires alx)ul volunteering, provided 1..1 support lo place 32 Individuals
into volunteering opportunities and presently has 77 volunteering opportunitses registered wlh them.

VOLUNTARY ACTION SHETLAND
DIRECTORS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Achkvoments and pèrfom)ancg
1. To bo a Central Source of Knowlodge
Volunlary Action Shetland (VASI is Shetland's Third Sector Interface. VAS provides a single point of access for
supp)rt and advice for the Third Sector within Shetland. There are 32 Third Sector Interfaces ￿s1,$) in scO￿and
with one sthated in oath local aulhorty area in Scotland,
TSI'S play an Important role in the Third Sector landscape. They are a key point of intelligenc8 *oul I￿al third
sector organisations and volunteering. They understand the local land￿pe and how il effects the third seciorfs
ability to ￿ntribUte to local outcomes and national strategies (such as health and soaal ￿re, community
empowefmenll. TSI'S are well positioned to identify support needs for lo￿1 community groups. voluntary
organisations, social enterprises ané around voluntsering. TSI'S Can identify third seetor issues and per8pects.ves
that can feed Into both local ?nd national policy.
Key 06velopment and Support work wlh organisalions h8V8 in¢luded'.
Identfying appropriate legal structures for third sector organisations and helping groups through CIC
registration, the SCIO process and charity registration for both new and existing organisations
Supporting the establishment of new community organisalions and dissolving Organisat￿n$
Supptyting groups lo 'reorganise' and amend trust deeds
Supporting groups lo establish rf subsidiary trading companies are required and 8UPPOrt to set up
suitsble kgal structures
Liaising with l)odies who have been given devdved powers in Trust Deeds to remove tlx)$e powers,"
Liaising with the charity regulator OSCR
Governance - Modernising constitubons and supporting groups to change their constiiutionslwriling
supplementsl d￿dS of trust and supporting d￿ritable ¢ompanies to change their Memor8ndum and
Articles ofAssociations
Helping groups understsnd the roles and responsibilities of Irusteesldirectors
Strategic planning support for groups
Recruiting commlttee membersrtruslees and succession planning
Advi￿ on establishing policies and pro¢￿UreS Ilncluding Conflict of Interest, Equality & Diversity, Fair
Work, Data Protection IGDPRI, Volunteer Induction
Supporting charities to ￿mplY wth OSCR regulations Imeeting deadlines for Trustoa Annual Reports
and Annual Accounts)
Keeping charities up lo dat8 wth the implementation of new Charity Law (trustee database, new trustee
disqualification criteria etc} and other changes to legislation such as the Disclosure (Scotlandl Aet 2020,
th8 New Fundraising Code of Practice. Companies House Identity verrfication of Chanty Directors,
Charity SORP.,
Querfes around disdosure and PVGS, electricity eosls and suppliers, insurance, Independent
examination, bank accounts, data proteckn"on, financial Tecord keeping, fundraising. health & safety (risk
assessmonl, first ald, safeguarding), food hygiène training, licensing laws. gambling licenses,
conveyancing, employment, trading, land and buildings transaction tax and VAT.
Last year 106 organisations received dir¢et $LSPPOrt trom VAS staff on a range of topics. VAS also circulated 29
general newsletters. 29 fijnding newsletters, 5 Cllmate newslettefs and 116 Information e-bullelins were sent out.
Approxim*Èly 230 people represenlng approximately 200 organis*ionslgroup$ have received the newsletters.

VOLUNTARY ACTION SHETLAND
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
2. To be the Vol¢e
VAS engage5 in a number of National and Local Stral8gic Partnerships, forums and working groups lo enable
voluntary groups and organisalions lo have a voice and the opportunty lo contribute. Last year 119 Meeb'ngs
were attended al 44 Mulli Agency Groups- Local and National.
VAS continues to represent the Third Sector on various strategic groups and fowm$. The list of representation
can be found on the VAS web51te'.
ni
This allows the Thlrd Sector contribution to the Shetland Partnership Plan 2018-2028 and th& ddivery of th?
irKlicalors around Participation, Place. People and Money to be recognised.
As part of the Publlc Sector Refom) agenda and the Scottish Govemmenls eommilment to tackle Child Poverty,
there has been an increased need for all partners to work better together for improved outcomes for Children and
Families. VAS sils on a wide range of strategic partnerships lo support a more j(Mned up approa¢h of swvice
provision across statutory and third sector, alongside supporting a shift in early intervention and prgvenlion.
Some examples of working alongside other Third Sector org8ni$alions, Volunlary ActKJn Shetland SUPkK)rted
Third Sector Partners to contribute to..
Shetland Local Employability Partnership Development Day
How good is our Third Sector in Local Children Services Planning t¢)olkil ￿th Children in Scotland
colleagues
A range of Local Patherships Annual Reports 202412025
VAS ¢onlributed information On￿ more lo support the publication of Shettand in Stslistics. no-44-shetland-in-
statistics-2024
The vital services of the third and voluntary sector continues lo support the people and communrties of Shetland
to feel included, empowered. resilient and safe. VAS provides support lo the $9¢tor lo enable organisations lo
operate well in the communty and develop to meet local nèèd.

VOLUNTARY ACTION SHETLAND
DIRECTORS. REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2026
3. Bulld Capactty
Assoclatlon of Charltles Independeni examlnors
All Third Sector groups need lo have their accounts
hecked to make sure their finances are managed property and running smoothty and all règlstered ch￿IlIeS are
required to file accounts and relums with OSCR. VAS has three members of stsff who can independently
èxamine accounts for voluntary organSs81ions and charities with an income less than £100.000 and help them
meet thei¥ legal requirements. VAS undertook 54 independgnt 8xaminat.ons last yoar.
Communities Mental Health and Wtllbelng Fundlng for Adults - Along wth other Third Sector Interface's
threughout Scotland, Voluntary Action Shetland distributed a 5th year of the Scottish Govemment Community
Mental Hearth and Wellbeing Fund forAdu118 to support Communty activity until Marth 2027.
Shelland's initial allocation for year 5 totslled £71.522.98 and there was addibonal fvndlng promded totalling
£14,310.60 after the First Minister's announcement on 29th December 25. £1,577.28 was reluined to VAS from
prevlous year awardees, hence the lotsl for VAS lo allocate for year 5 of the fiJnding was £87,410.86.
The overarching aim of the Fund 1$ to..
Support community-based inf(ialives Ihal promote and develop good mentsl he8llh and wellbeing andlor mitigate
and proled against the impact of distress and mental ill health wthin thg adult population {ag¢d 16 or overl. with
a particular focus on prevention and earfy intgrvgntion.
18 Community GroupslOrganisatSons Received Funding lo Support Locgl Initiatives
Valla Fund - The Vaila Fund was established in 2009 and is managed by VAS. The fund financially assists
disadvantsged young people in Shetland to experience the joy of travel- young pèople vi&t exciting new places,
and delight in leafning about new QU￿UreS, history, foc#J, traditions, and activities. The trips irtrease tt)e
confidence and independence of the young people as well as strengthening existing friendships and eslablishiNJ
new ones. 7 Awards Granted lotalling £4,295 8nabled seven young peoplg to experience travel.

VOLUNTARY ACTION SHETLAND
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Support - VAS provides tailored and flexible support to build the ¢apacity of as many voluntsry organisations In
Shetland as possible by responding lo queries as they arise. and through targeted support and training. In
providing the support, it enables local groups to run well which. in turn, supports them to meg1 bcal needsl
domands.
This year VAS staff assisted 106 organisations with one to one advice on a range of topics. Key issues stsff
supported groups on have been stipulated in the central souic• ol kno￿edge section. VAS also Provided 9
Charities wf(h Monthly Payroll andlor accounts support.
Tralnlng- VAS staff have provided training to groups and organisations. Topics have induded.-
Roles and Responsibilities of Trustees trainlng
Ri$kAssessmenl Training
Financial Management Training
Trauma Informed Awareness Training
Train the Trainer Trauma Infornied Awarene$5 Training
Organisats'onal Slrudures
National Training for TSI Advisors on Charity Re-organisalion and SCIO'S
Volunteers Week 2nd- 8th June 2025 - VAS held the Saltire Awafd Ceremony in Volunteers ￿tek to recognise
and eelebrsle young volunteèrs. VAS also shared P¢)Sts on Faeebook where organisalions had said thank you to
their volunteers. Additional promotion was a window display at Market House and a social media promotion on
volunteering opportunities registered with VAS grouped into categories.. Youth l Board Member Trustee I Care
and Support l Home based l Nature and Animals I Sport and Leisure.
Trnstee5' Week 3rd - 7th Nov8mb8r 2025 - Trustees. Week. celebrated the vital contributions of charty trustees
across Scotland and the UK. Trustee5' Week is an annual event that recognizes the important work carried OLrt
by nearfy one million charty trustees across the UK. It serves as a plafform lo celebrate their achievements,
encourage more people to consider becoming trustees, and Prowde opportunitses ft)r skills development and
networking within the charrty sector. 2025 year's national theme was.. Good Goveman￿ - strong boards for
sustainable Ooanisat￿ns. VAS undertook a wee￿ong Social media campaign ￿lebrating several Trustees from
local chari(ie$.
PromotSng Volunteerlng - The VAS Volunteering leam have continued to support individuals to find suits￿e
volunteering opportunities and also support organisations to recruit and reward their volunteers in the past year.
Highlights included a re¢ord-breaking number of volunteer5 being pul forward for our Saltire Awards and a third
really SUC￿Sful year of our'wlllin Haands, and 'Peerio Trows, Awards.
VAS Volunteering slaff were out and about in the communty attending the Llving Well Hub in Brae, Jobcentre+,
Community Hubs, schools and youth groups. Staff once more attended larger events in¢luding the Country
Shows and Careers Events.
704 voluntary organisations Tegistered wth VAS
1018 adive volunteers registered- 928 youth volunteers {under 2518nd 90 adult volunteers
15 new volunteering opportunities promoted for organisations lookln9 for volunteers
77 active opportunities on our database
32 Volunteers giv&n 1..1 SUPF)Ort lo find, be placed and supported into a volunteering opportunty
594 enquiries from volunteers
285 enquiries from volunteer involving organisations
104 Organisalions supported on volunteering issues

VOLUNTARY ACTION SHETLAND
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Saltlre Awards VAS were delighted to host the annual Saltire Awards Cgremony al Mareel on Tuesday 3rd
June 2025. Another re￿rd-breakIng year of volunteering for young people saw thè age limit for Saltire Awards
lowered to 11, which no doubt contributed to the high number of young volunteers pul forward ft)r an award.
185 young people received a total of 335 ¢e￿fiCateS bewn them. recognising the over 22,500 hours of
volunleerlng they had colledively taken part In within 70 different local groups, Schools and organisations.
Musical entertainment on the night was provided by the Forget Me Notes, a talented group of young fidd
players, who welcomed everyone with their tradrtional tunès before the ceremony began.
Thls year, the majority of the event was led by a group of young vdunleers who were part of the Shet5and Youth
Voice. Ava, Kali, Erin and 8eeni&Ann not only opened the event with a speech but also pfesenl8d and r88d out
the case studies for most of this year's awardees.
Once again, organlsations who had pul fOn￿ard a large number of volunteers were highlighted throU￿oUt the
evening. The WKle range of groups ranged from the exryessive arts of drama and dance, to those supporting the
wider community Ihiough peer support and loeal events.
Al the end of the night. 8 young people received a Summit Award. This is the most prestigious S811ire Award
which is only achieved by volunteers who have been nominatfjd by their supervisors for making an outstanding
conlribulion to volunteering in their local area. Volunteers receiving this accolade represented Shetland YoLrth
SeNices, Cope Ltd., Open Door Drama and Shetland Army Cadets.
The event was brought to a close by one of this year's Summit Award recipients, Vaila Thompson. She wrapped
up the evening with a speech about her impressive volunteering joumey across several very different aspects of
her life.
VAS Volunteerfng Awards - The VAS VolLtnleering Awards were launthèd for a 3rd year in September 2025.
The awards consist of categories, the 'Willin Haands Award, for adults aged 26 and over, and the 'Peerie
Trows Award, for children 118nd under. The awards complemenl the national Saltire Awards scheme, which VAS
deliver annualty to recognlse young people and Ihelr volunteering efforts aged 1110 25.
The aim of the VAS Volunteering Awards is to recognise and celebrate Shetland's many wllling help¥s and
volunteers of all ages help out and volunteer in their eommunitses the length ar￿ breadth of Shetland. We
recognised all volunteers l)olh fomial and informal, who help out through volunteer involving organisalions and
infomially by helping in their local Communities, supporting neighbours wth shopping, welfare chgcks. baking for
teas, litter picking and many other activities. ThgAwards also focused on Trustees this year.
49 nominations were received for 48 awardees..
42 Wllin Haands- for adults aged 26+
6 Peerie Trows- for children aged under 12
Certificates were awarded acr088 the length and breadth of the Isles. Vduntsry s8rvi¢gs and acts of kindne$$
the recipients provided for Shetland included being good neighbours, providing many years, service to recording
and sharing Shetland's history, helping al Ihg local hall or dubs and organisations, eommittee memters,
supporting vulnerable folk, cleaning verges and picking up litter and fijndraising to mention a few, many providing
several years of volunteerlng.
Youth and Phllanthropy Inltlatlve - In addition lo core activities. VAS Volunteering has supported the Iccal
delivery of the Youth and Philanthropy Inith*ive IYPI) in secondary schools across Shetland for the third year
running.
YPI is the biggest independent initiative being delivered across Scottish education, where each school is
sponslble f¢y directing a gfanl of £3,000 lo a local charlty champion￿ by ils students. YPI engages students in
a powerful active citizenship programme, empowering young people to make a difference in their eommuniti8S
while developing a range of skill$ and knowledge on social issues and local charities.
Locally, VAS have continua to C¢)•facilitale the final showcase event al 6 SecondarylJunior Hlgh Schools, where
pupils present their case for a chosen charity. VAS are looking forward to continuing their partnership with The
Wood Foundation and YPI in the upeoming academic year.

VOLUNTARY ACTION SHETLAND
DIRECTORS, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
4. To Connoct
VAS continues to connect through various forums and netsvorks.
Thlrd Soctor Forum: Facilitated by VAS, an independent nehvork of third sector organisation$ in Shetland that
meets bimonthly to share good practice. 29 members in the forum.
Shetland Communlty Fa¢llltlÈs Network.. The Netsvork aims lo provide a regular platfom for voluntary groups
and organisali¢Ms who manage a comrnunty faality to ne￿Ork, leam, ¢ollaborate and share infomation lo
improve the management of the fac41ilies for the community. 78 organisalions supported through the ne￿Ork.
Mark•t House.. Shetland's Third Sector Hub, ¢)wned and managed by VAS.
It is the office base for 13
Independent Charities including VAS. Last year Market House had 4834 visits and 3396 room bookings 1292
extemal & 3104 resident groups). More information on Markel House, resident organisakn'ons and costs for room
bookings can be viewed online al..
rk
Volunta
Action Shetland
Cllmate Actlon Actfvlty
Shetland Communlty Cllmat8 Action Network.. Continuing lo work in partnershlp ￿th the Shetland Islands
Council, Island Centre for Net Zero, Islands Communty Action Ne￿ork, Highlands and Islands Climate Hub,
Highlands and Islands Enlerprise, Local Energy Scotland, Community Eneigy Scouand and Uplrft to support
groups and individuals interested in climate related activity in Shetlantl. The Nelwork aims to briTrJ together
interested parties, coordinate ad'wty, resourees and signpost where relevat)l. VAS supports the netrlork wlh
regular bulletins on climate related news and funding opportunities.
Shotland Cllmate Café: 5 Café meetings were held during this pgriod on the topics of ￿MMUnty growing, Peer
learning from the Oxford Climate Collective, SG Climate Chang8 Plan consultsts'on, Circular Economy INHS
Warp It and Cope Home store), Xmas crafts, Intsngiije Culture and natural heritage. with a total of 75 people
attending the cafes.
Scottish Govornmont Draft Climate Plan consultatlon: facilitated workshops were delivergd for people to
attend to provide their thoughts on the draft plan which were fed back through the Royal Scotts'sh G￿raphICal
Souety
VAS continued lo utilise their social media presenee with the Voluntary Actlon Sheuand Facebook ￿ge and the
Voluntary Action Volunteering Fac¢bgok page. VAS are also on Inslagram - the number5 following, reacting and
sharing the information ¢onlinues to grow and VAS have also used swal media to promtrte their work, celebrate
achievements, promote volunteering and arculate inforniation on a range of topics including fvnding. training and
consullats'ons relevant to the sector.

VOLUNTARY ACTION SHETLAND
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Flnanclal revlew
Voluntsry Ath'on Shetland ha$ ¢onfimed funding from the Scottish Government until 31st March 2027. The
Scottish Govemmenl is an annual grant for Core Actlvtty. VAS was S￿￿e$S￿l in securing funding frun the
Shetland Charitable Trust lor Core Activity for the nexi year untrl 31st March 2027 with indicative funding for the
next 4 years up to 31 st March 2030.
In the year to 31 March 2026 the charty has added £83,510 arKI used £94,693 of unreslricled rg$8rv8$ to
support VAS aG¢ivity leaving £271,034 to carry forwar¢J in unrestricted reserves afiertransfers.
Voluntary Action Shelland has been successful in attracting funds for the organisalion and during the financial
year to 31 March 2026 received restricted funds of £818,092 for specific projects.
In the year £846,019 was spent in delivering services for those projects. with some of the funding havlng been
rKeived in previous years. therefore the balance of restricted income and capital restricted hjnds to lake forward
into 2026 are £300,478 and £417,207 re8pe¢tivety to support ongoing valuabKg work for the Gommunity and the
third sector.
Prfnclpal Fundlng Sources
Revenue Funding 18 received from Scottish Government, Shetland Charitable Trust and Shetland Islands
Council. External funding for projects includes, The Wood Foundation, The National Lottèry Community Fund,
Shared Care ScoUand - Short Breaks, Shetland Community Benefrt Fund.
Reserwes •nd going concern pollcy
The directors have examined the charity's requirements for reserves in light of the main risks lo the organisatlon.
They have established a policy where the unrestricted funds not committed or invested in tangible fixed assets
held by the charity shoukl bè 3 months of expenditure.
Relevant expenditure lexdudlng deprecialionl for 2028 w?s £853,223 8fKI therefore thg target is £213,306 in
unrestricted fvnds. The reserves are needed to me81 the working capital requirements of the charSty and Ihe
directors are confident that at this level they would be able to conllnue the Gurrent actiVTtiés of the charity in the
event of a significant drop in fijnding.
The PTesent level of unrestricted reserves aVaila￿e to the charity is £271.034. Of this £145,363 has been
designated for activity wth £125,671 being free reserves. The charity therefore falls short of the target level
although the strategy is lo continue to bLJild reserves through 8elf-generaled charitable aclivi(ies.
The total funds al the year-end were £988.719. Of this £372,503 represents the costs of the property hgld by the
charity with a further £44,704 for future eapital and maintenance Costs. This then leaves £571,512 in working
capitsl and fixed assets of whieh £300,478 Is included in restricted fvnds and can onty be used in a￿Ordance
with sp￿lfi¢ conditions on each fund. The remaining designated fvnds of £271,034 and free re$erves were hdd
at the year end for the pU￿lse$ described in the notes lo Ihe financAal statements.
The p8nsion doficil has been shown separately lo allow the remaining Carry forward balance lo be shown. The
deficrt is to be paid over the next three years and as such will be met through future fvnding and any necessary
cost savings. The remaining carry forwards show that there are suffiaenl resour￿$ for the day-l04ay
fequirements ol the Gharity for the loreseeable fvtU￿.
The Directors are well aware of the shortfall in reserves, bul in the current financial climate it is bewming
increasingty drfficull to build reserves, the Directors continue to be committed lo build reserves required realising
that this may take longer than anticipated and not having the stated amount of reserves is an identified risk. The
Director's continue to monitor level of reserve and utilise the income effeelively lo assist in the buihding the
expected resesve amount.
Capftallsatlon Pollcy
Expenditure on fumilure and equipment is included In resources expended in the Ststement of Financial
Activities when ineurred. No single equipment purchase wth a cost of t>elow £500 is lo be capitalised.
10-

VOLUNTARY ACTION SHETLAND
DIRECTORS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Plans for the Futur•
The Executive Offi￿r of VAS has been asked lo continue lo deliver activities. indicators and outcomes on the
following.. °To be a ¢enlral source of kno%￿edge on the sectoff, 'To be the Voice., 'To Build Capacity. anil
'Connect°.
Voluntary Action Sheuand will eonUnue to 8UPPOrt the Third Sector in supporting activty to help wth the onNgoing
impact of the cost of living challenges, supporting eady interyenlion and prevention and responding to l¢xal
priorits'ès and needs.
Structure, governance and managemènt
Govèrning Documont
The organisation is a charitsble company limited by guarantee, incorporated on the 15 May 1996 and registered
as a charity on 15 May 1996. The charity's Memorandum and Articles ofAssocialion established the objects and
powers of the charitable company and it IS govemed under ils Artlcles ofAssodalion.
The dlrectors who served during the year and up to the dale of signature of the finanoal statements were..
M Flaws {Chairpersonl
S Laidlaw (Finance Diredorl
O MacLeod
V Nicolson
L Tulloch (Vice Chairperson}
I Webb
B Wlcock
M Brill
{Resigned 26August 2025
{R&signed 26August 20251
(App￿nted 19 November 20251
Recrultment and Appolntment of Dlrectors
The directors of the charity are also charity trustees for the wrposes of charity law and undor the company's
Articles are known as Dirèctors of the Management Board. Under the requirement of the Memorandum of
Articles of Associabon the members of the Management Board shall retire from office at each annual general
meeting and are eligible to stand for re-election.
VAS members. either individuals or individuals nominated via organisalions, who wishes to be considered for
appointmgnt as a director at an annual general meeting, must lodge wlh the se¢￿tary a writtèn notice of their
willingness to be appointed Iln such fomi as board might require), signed by them, 28 days prior to the date of
the Annual General Meeting.
The Board may at any time appoint (following the reuurtment pro￿SSI any member lo be a directoreilher to fill a
Va￿n￿ or as an additional director.
Indemnlty In$urnnce
The charty has tsken out indemnty insuran¢9 in favour of the directors.
Dlr•ctor Induction and Training
New directors lo the board are issued wth an induction and procedures manual containing relevant infomalion
on the Charity, including the Memorandum of Articles of Association, staff infom)alion, relevant policy documents
and the Annual Report. Induction meetings oceur between the board member and EX￿ul1Ve Officer to ensure
there is a suitable sharing of infomiation about the charity. A meeling of all directors ocojrs as soon as possible
after the Annual General Meeting to introduce any new directors to other board directors and staff.
11

VOLUNTARY ACTION SHETLAND
DIRECTORS. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Oryanlsotlonal Structure
Voluntary Action Shetland has a Managemgnt Board of up lo 11 directors who meet 6 Ilmes per year. Currently
there are 6 directors from a valiely of professional backgrounds, the Executive Officer also attend8 b08rd
meetings but has no voting rights. The Executive Officer is the Company Secretary.
day-towday operation and decisions of VoluntaryAction Shetland are delegated to the Executive Officer.
Thè Executive Officer is restK>nsible for the delivery, management and monllodng of all grants awarded lo
Voluntary Action Shetland and line manages all staff and projects under the umbrella of Voluntary Action
Shetland.
Vcduntsry Action Shetland is one of the 32 Interface Organi581ion8 Ihroughout Scotland and deliver ¢Jn four key
a￿a$ for the government. Voluntary Action Shetland is recognised by Shetland Islands Council Community
Planning Partnership as the interface organisalion for Shetland. A proportion of funding comos from the Seotbsh
Govemmenl to deliver Services to the third sector locally.
Pay pol5￿ for $¢nlor staff
The directors together with the senior managemont team of eomprise the key management personnel of the
harity in charge of directing and controlling, running and opèrab'ng the charity on a day to day basi5. All
directors give their lime freely and no director received remuneration or expenses in the year.
The pay of the senior Stsff is reviewed annually and is set with rgfergnce to COSLA pay scales.
Risk manay•ment
The directors confimi that the major rlsk to whlch the charty is exposed to have been considered and reviewed.
The main risk is financial sustainability. The board monitor cash and reserves Tegulady. If incomo is reduced to
an unsustainable level then services would be Toduced unless there are sufficient reserves available to bridge
any fvnding gap. Should this issue arise there is the reserves fund which could be uts'lised however il is more
likely that 8ervices would be reduced.
Audltor
A.J.B. Scholes Ltd were aprx)inted as auditors and has induled its willingness to conllnue in office.
Disclosure of Infomiatlon to audltor
The directors who wer8 in office on the dale of approval of these financial slalemenls have confimied, that Iherg
is no relovant infornation of which the auditors are unawaye. Each of the dlrectors confirmed that they have
tsken all steps that they ought to have taken, as directors, to make them aware ol any relevant audit information
and lo establish that it has been communicated to the auditors.
The directors. ￿port was
pproved by the Board of Director5.
MFla
Director
Dated.. 28 July 2026
Chalrp•rsonl
L Tulloch Ivlce
Director
Dated'.28 July
halrper8onl
26
12-

VOLUNTARY ACTION SHETLAND
STATEMENT OF DIRECTORS. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2026
Th& directors, who also act as trustees for Ihe charitable activities of page 1, are responsible for prepanng the
Directors, Report and the financial statements in accordance wth applicable law and United Kingdom Accounting
Standards Iuniled Kingdom Generally A￿epted A¢￿untIng Practice).
Company law requires the direelors to prepare financial slalements for each financi81 year which give a true and fair
view of the stale ()f affairs of the charity and of the incoming resources and application of resources, including the
in¢ome and expendlture. of the charitable company for that year.
In preparing these financial stalernenls, the directors are required to..
select suitsble accounting policies and then appty them consislenUy',
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards have been followed, subject lo any material departures
disclosed and explained in the financial statements., and
prepare the financial st*ements on Ihe going concern basis unless rt is inappropriate lo presume that the chanty
will continue in operation.
The directors are responsible for keeplng adequate accounting records Ihat disclose with reasonable accuracy at
any time the financial position of the and enable thern to ensure that the financial ststemenls Gomply with the
Companigs Act 20(￿, the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts
(Scotlandl Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for
lakirKJ reasonable steps for the prevention and detection of fraud and other irregularities.

VOLUNTARY ACTION SHETLAND
INDEPENDENT AUDITOR'S REPORT
TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND
Oplnlon
We have audited the finaneial slalements of Vduntary Action Shetland (the 'charitable ¢ompany') for the ye8r ended
31 March 2026 which comprises the Statement of Finanryal Activib'8s, the 88lance Sheet, the Stslement of Cash
Flows and notes to the financial statements. including a summary of significant aceounling poliaes. The financial
reporting framewort that has been applied in their preparatK)n is applicable law and United Kingilom Accounting
standards, including FRS 102 "The Financial Reporting Standard appllcable In the UK and Republic of
Ireland" Iuniled Kingdom GenerallyAccepted Accounting Practice).
In our oplnion, the financial statements..
give a true and fair view of the state of the charitsble company's affairs as at 31 Ma￿h 2026 and of its
incoming resources and application of resources, for the year then ended.,
have been property prepared in 8￿rdance wlh United Kingdom G9nerally Accepted Attounting Pract1￿.,
and
have been prepared in aceordance wlh the requirements of the Companies Acl 2006, the Chariti8s and
Tnjstee Investment IScotland} Act 2005 and regulation 8 of the Charrties Acwunts (Scotlandl Regulations
2006.
Basis for opinion
We have been appointed auditor urKler ¥ecti¢)n 4411llc) of the Charilies and Truste8 Investment (Scotlandl Act 2005
and under the CompaniesAct 2006 and report to you in accordance with reguL4tions made under thoseActs.
We conducted our aL￿1t in accordan￿ wrth Intemational Standards on Auditing {UK) IISAS IUKII and applicab
law. Our responsibilities under those standards are further described in the Auditorfs resF)onsibilitses for the audit of
thè finaneial statements section of our report. We are independent of the charitable company in accordance with the
ethical requirements that are relevant to OUT audrt of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audrt eviden￿ we have obtained is sufficient and appropriate lo provide a basis for our opinion.
Concluslons relatlng to going eon¢em
In auditing the financial statements, w8 have concluded that the directors, use of the going concern basis of
accounting in the preparation of the finarrial stslemenls is appropriate.
Based on Ihe work we have perfomed. we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may Cast significant doubt on the charity's abilty lo continue as a going
concern for a period of at least ￿e1ve months from when th8 financial slalements are authorised for issue.
Our r8spon$ibililies and the responsibilities of the dire¢tors wth respect to going Goncem are described in the
relevant sections of this report.
Other Inforniatlon
The other infomialion eomprises the infomialion included in the annual report other than the accounts and ￿r
auditor's report thereon. The directors are responsible for the other information contained wlhin the annual report.
Our opinion on the a¢counts tloes not cover the other information and, except to the extent olhewise explicl(ly
slated in our report, we do not express 8ny fom of assurance ondu$ion Ihereon.
Our responsibility is to read the other informabon and, in doing so, consider whether the other infomiation is
materially inconsislenl wlh the accounts or our knowledge obtained in the audrf( or othetwise appears lo be
materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are
required lo detemlne whether this gives rise to a material misstatement in the accounts themselves. If, based
the work we have pertomied, we conclude that there Is a material misslalement of this other information, we are
required to report that fact.
We have nothing to ￿port in this reg8rd.
14-

VOLUNTARY ACTION SHETLAND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND
Matters on whlch we arn rgqulred to report by exceptlon
We have nothing to report in respect of the following matters where the Companies Ad 2006 and Charits'es
Accounts IScolland} Regulations 200618s amended) require us to report to you rf, in our opinion..
adequate and proper aceounling records have not be&n kopt, or returns adgquate for ¢Jur audit have not been
receiv8d from branches not visited by us,. or
the accounts are not in agreement with the accounting records and relums.. or
certain disdosures of trustees, remuneration specified by law are not made., or
the directors were not enkn.tled to prepare the finanual statements in accordance with the small companles
regime and lake advanlage of the small companies exemptions in preparing the directors, report, induded
wrthin the annual report, and from the requirements lo prepare a strategic roport.
Responsibllltles of dlroctors
As explained more fully in the ststemenl of directors, responsibilities. the trustees (who are also the directors of the
chafilable company for the purposes of company lawl are responsible for the preparation of the financial statements
and for being sats'sfied that they give a true and fair view, and for such intemal control as the directors determine is
necessary to enable the preparation of financial statements that are tree from material misststemen( whether due
to fraud or error.
In preparing the finanaal st*ements, tho directors are responsible for assessing the charitable company's ability to
continue as a going concern, disclosing, as applicable, matters related lo going coneem and using the going
concern basis of aeeounting unless the directors eithef intend lo liquidate the tharitsble company or to cease
operations, or have no realistie altemalive bul lo do so.
Audltorfs responslbllltles for the audlt of the flnanclal statomènts
We have been appointed as auditor under section 4411 Ilcl of the Charities and Trustee Investment Iscotlandl A¢t
2005 and report in accordanc8 Wth the Act and relevant regulations made or having effect Ihereunder.
Our objectives are lo oblain reasonable assuran￿ about whether the financial ststements as a whoie are free from
material misststement, whether due to fraud or error, and to Issue an audltorfs report that includes our opinion.
Reasonable assurance is a high level of assurance bui is not a guarantee that an audit conducted in accordan
with ISA8 IUKI will always delect a material fflisslatemenl when it exists. Misstatements Can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence
the gconomic decisions of users taken on the basis of Ih¢se financial statements.
The extent lo whlch our procedures are capable of detecting irregularities, induding fraud, is detsiled below.
15-

VOLUNTARY ACTION SHETLAND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND
Irregularities 8re instances of non-complianee with laws arKI regul3lions. The objectives c)f our ajdit are lo obtsin
SLfficienl appropriate audit evidence regarding compliance wth laws and regulations that have a dlrecl effect on the
deleminats'on of material amounts and disdosures in the financial ststemenl$, lo pgrform audit pro￿dUreS lo help
idenltfy instances of non-¢omplian¢e with other laws and regulations that may have a material effect on the finanual
slalemenls, and lo respond appropriately to identified OT SLispected norvcomplianee laws and regulallons
identffied during the audit.
In relation to fraud, the objectwes of our audit are lo idontify and assess the risk of material misststement of the
finanaal slalements due to fraud, lo obtsin sufficient appropriate audrt evidence regarding the a$￿Ssed risks of
material misstatement due lo fraud through designing and implementing appropri8te responses and to respond
approprialety to fraud or suspected fraud identified during the au(kt.
However, it 1$ the primary responsibility of management. wilh the oversight L)f those charged with governance, lo
ensure Ihal thè entity's operations are cOndu￿ed in accordance vrilh the provisions of laws and reg￿ationS and for
the prevention and detection of fraud.
In identifying and assessing risks of materi81 misslalemenl in re$pg¢t of irregularities, including fraud, the audit
engagement team..
obtained an understanding of the nature of the sector. indudlro the legal and regulatory fram¢work$ that
the ¢harit8ble company operates in and how th8 tharitable company Is complying with the legal and
regulatory frameworks.,
• inquired of management. and those charged with govemance, about their own identification and
assessment of the risks of ir￿gularitieS, induding ary kn¢)wn actual. suspected or alleged instances of
Iraud.,
discussed matters about non-compliance wlh laws and regulations and how fraud might occur induding
assessment of how and wherg the financial statements may be susceptible to fraud.
As a result of these procedu￿$ we consider the most significant laws and regulations that have a direct impact on
the financial stslements are FRS 102, Charities SORP {FRS 102), the Charities and Truste¢ Investment {ScoUandl
Act 2005 and regulation 8 of the Charities A￿oUnts IScoUandl Regulations 2006 {as amended). Wè performed
audit procedura5 to detect non-compliances which may have a material impact on the financial statements swhlch
included reviewng the finanaal statemants including the Directors. Report, remaining alert lo new or unusual
transactions which may not be in accordance with charty law, inspecting board minules and confirming there had
been no correspond8nce wrth OSCR or extemal legal advisers in the period.
The most signrficant laws and ￿g￿lat￿n8 that have an indirect impact on the finanaaS statemerrts are those in
relation to the Data Protection Act 1998. We performed audit procedures lo inquire of management whdher the
charitsble company is in complian¢8 with these laws and regulab'ons, inspected board minul&s and the risk registgr
for control$ in place. Furthermore we inspected correspondence wth regulatory authorities and reviewed the
register on thg Informali¢)n Commissioner's Office website.
The audit engagernenl team idenlrfied the risk of management ovorride of controls as the area where the finonaol
statements were most susceptible lo material misstalemenl due to fraud. Audit procedures performed included bLrt
were not limited to testing manual journal gntries and other adjustments, evaluating the business rationale in
relation lo signrficant, unusual Iransaclions and transactions entered into outSKJe the nornial course of business,
and challenging Il￿gMentS and estimates.
A further description of our responsibilities for the audit of Ihe accounts is located on the Finana81 Reporting
Council's website al. http'./lwww.frc.org.uklaudilorsresponsibilities. This description forms part of our auditors report.
16-

VOLUNTARY ACTION SHETLAND
INDEPENDENT AUDITOR'S REPORT (CONTINUED
TO THE DIRECTORS OF VOLUNTARY ACTION SHETLAND
Use of our report
This report is made exdusively lo the membeys, as a body, in a￿￿dance with Chapter 3 of Part 16 of the
Companies Ad 2(￿￿, and to the charity's dirèctors, as a body, in acLordance with 8edion 441111¢) of the Charities
and Truslg9 Investment Iscotlandl Acl 2005 and wulation 10 of ihe Charities Acwunts ISc¢)Ilandl Regulations
2L￿￿ las amendedl. Our audit WOTI( has been und￿ken so that we might 8tate lo the members and the charity's
directors those rnatters we are required to stale to them in an auditorfs report and for no other purpose. To the
fullest extent perrnitted by law, we do not accept or assume re$ponsibility to anyone other than the charity, its
members as a body, and its directors as a body, for OUT audit work, ts thi$ report. or for the opinions we havg
fomied.
Ir•ne Hambleton (Sonior sts￿tOry Audltorl
For and on beha￿ ofA.J.B. Stholes Ltd, Statutory Auditor
Chartered Accountants
St Olafs Hall
Church Road
Lerwick
Shellanil Is
ZE1 OFD
Date..
A.J.B. Scholes Ltd is èligible for appointment as auditor of the charity ty virtue of its eligibilty for appointment a$
aLKlitor of a company under section 1212 of the Cornpanig$ Aci 20C6.
17-

VOLUNTARY ACTION SHETLAND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2026
Unrgstrlcted Restrletod Restricted
income
Incomo
capltal
fund8
funds
fund$
2026
2026
2026
Unr•stricted Rostrlctsd R￿trIcted
income
Income
capltal
funds
fund¥
fund$
2025
202S
2025
Total
Total
2026
20215
Income from:
Donations and lega¢
Charitable ¥ctNities
Investments
3,708
814,384
3,708
887,178
10,718
2,145
755,402
2.145
842,083
72,792
10,718
86,681
Total Income
83.510
818,092
9)1,602
86,681
757.547
844.228
Expenditurè on:
Charitable activiti&
94.693
846,019
6,15S
946,867
110,880
846,960
72,¢J)0 1,029.840
Totsl •xpgnditurn
94.fj93
846,019
6,155
946,867
110,880
846.960
72.CrtlO 1,029,840
N•t •xpendlture
111,183)
(27,92n
16,1551
{452651
124,1991
189.4131
172.IJ)01 1185,612)
Transfers be￿een furKJ$
86,421
186,9191
27.155
66,299
{93,454}
Net movemont In lunds
10
75,238
127,4291
193,0741
145,2651
123.1141 1165.454} 1165,812)
Reconciliation of fundg..
Fund balancas at 1 April 2025
195,7
327.9)7
510,281
1,033.984
192,840
351.021
875,735 1.219,598
Fund balanc￿ at 31 Ma￿h 2026
271.034
300,478
417,207
988,719
195,796
327,907
510,281 1.033,984
The stalemenl of financial actNlties Includes all gains and 108Ses recognisad in the year. A¢1 income arKJ expenditur¢ derive from o)nlinuin9 adNitie8.
18-

Company Registratlon No. SC16$677
VOLUNTARY ACTION SHETLAND
BALANCE SHEET
AS AT31 MARCH 2026
2026
2026
Notss
Flxed assèts
Tangible assets
12
375,437
463,814
Current assets
Debtors
Investments.. fixed tem deposits
Cash at bank and In hant1
13
52.724
89,363
511,016
55,855
167,342
379,522
653,103
602,719
Credltors: amounts falllng due wlthln
one year
14
(38,7521
130,9821
Nel currfjnt assèts
614,351
571,737
Totsl assets less curTenl Ilabllltlss
989,788
1,035,551
Provlslons for Ilabllttlg¥
20
11,0691
11.567}
Net a$sots
988,719
1.033,984
Capltal funds
Reslrid¢d capitsl funds
Income funds
Restricted income fvnds
Unrestricted income funds
15
417,207
510,281
18
17
300,478
271.034
327,907
195,796
988.719
1,033,984
The directors acknowledge their responsibilib"e$ for complying with the requirements of the Compaties Act 2006
th respoct lo aceounts.ng records and th8 preparation of fin8naal slalements.
These xcounts have been prepared in accordance with the provisions applicable to companies subject tr) the small
companies, regime.
See note 12 for further detai15 on the assets and ￿lat0￿ burden on titles infom)ation.
Tho accounts were approved by the Directors cn 28 July 202
5 (Chairperson)
Dlrector
L Tu11￿h (Vice C
Dlrectot
irperson}
19-

VOLUNTARY ACTION SHETLAND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
2026
2025
Notes
Cash flows from operatlng actlvlties
Cash generated fromllabsorbed by}
operations
22
48,064
{19,2501
Invegtlng 8Ctlvltle8
Purchase ol tangible r￿ed assets
Interest received
15.2671
10,718
2,764
Net cash generated from Inves￿ng
actfvltle8
5,451
2,764
Not cash usèd In flnanclng actlvltlfrs
Net Increaselldecreasel In cash and flxed temi
deposits
53,515
{16,486)
Cash and ffixed temi deposits al beginniNJ of year
546,864
563,350
Cash and flxgd term deposlts at end of year
600,379
546.864
Relatlng to:
Bank balances
Fixed temi deposits
511,016
89,363
379,522
167,342
-20-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Accountlng poll¢ios
Charlty InfomiatSon
Voluntary Action She￿and is a private company limited by guarantee incorporated in Scotland. The registered
offiee is Market House, 14 Market Street. Lerwck, Shetland, ZE1 OJP. It is also a charity regi$lered Nmth Office
of Scottish Charity Regulator {OSCRI.
Accountlng cortventlon
The accounts have been prepared in accordance with the charity's Memorandum and Arbdes of Assccialion,
the Charitses and Trusteè Investment (Scollandl Act 2005, the Charities Accounts IS¢ollandl Regulations
2006 las amended) and 'Accounting and Reporting by Charities.. Stslemenl of Re￿rnmended Practice
ap￿ICable to charities preparing their accounts in accordance Ihe Financial Reporting Standard
applicab￿ in the UK and Republic of Ireland IFRS 1021" las amended for aeeounling periods commencing
from 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102.
The finandal ststements are Fxepare(l in sterling, which is the fvnctional eurrency of the charty. Monetary
amounts in these financial statements ar8 rounded lo the nearest £.
The financial statements have been prepared under the historical cost cAJnvenllon. The prsnapal accounting
policies adopted are set out below.
Golng concern
The charitable Company is dependent on the continued support of various funding agencies to fund its future
activities. The charity has received funds in advance of continuing activities. The board have rewewed
budgets for the fL)reseeable future and with the funds already available for acb'vities together wth the incorne
receivable In 2026 and into the medium temi. they are satssfied there are sufficient resource to see the charity
through for at least 12 months from the date of signing the accounts.
The Charity is fortunate that its funders continue to support the organisalion. Successful applications have
been made to SheUand Charitable Trust which has committed to fund VAS lor another year until March 2027
with indicative funding until March 2030 and the Scottish Govemmenl has committed to fund another year
until March 2027.
Any shortfall in funding can be met from current reserves in the short lo medium tem. As such, ￿ material
uncertainties that may ¢asl significant doubl about the abilty of the charitsble company lo ttjntinue as a going
concern have been identsfied by the directors. As a result they have adopted the going eoncem basis of
accounting.
Charltable fund8
Unr8slrided funds are available for use at the discretion of the directors in furtherance of the geneTal
objectives of the charity.
Designated fvThJ$ are unreslncled fvnds eamarked by the directors tor particular purposes.
Restricted funds are funds which are lo be used in accordance wlh spec4fic restrictions imposed by the
donors. The cost of raising and administering such fvnds are charged against the specific fund. The aim and
use of each restricted fund is set out in the notes to the financial statements.
The restricted capital fvnd relates to the building at Market House. The balance is being reduced as the
assets depreciate by transferring an equivalent amount between caprtal funds and the unrestricted fvjnds.
-21

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Accountlng pollcles
{Contlnuodl
Income
Income is recognised the charity is legally entitled to il after any performan￿ conditions have been met.
the amounts can be measured rèliably. and it 1$ probable that In￿Me will be received.
Cash donations are recognised on receipt. Other donation$ are r￿QgnISed oncg the tharity has been notified
of the donation, unless performance condfti¢Jns require deferral of amount.
Interest on funds held on deposit is included when receivable and the amount can ￿ measured rdi&)ly by
the Charity,. this is nomially upon notification of the interest paldlpaya￿e by the bank.
Other income arising from services provided to the voluntary sector in Shetland is measured at the fair value
of the consideration received or receivable and represents amounts reCeiVa￿e for goods and services
provided In the nomial course of the charity's a¢livities.
Exp•nditur•
All expenditur8 is included on an accruals ba$[$ and is ￿￿nISed when the￿ is a legal or constnKtive
obligation to pay for expenditure. il is probable that settlement will bs rgquirgd and the amount of the
obligation can be measured reliably. Tho oompany is not registered for VAT and accordingly expenditure Is
Shown gross of irrecoverable VAT. Expenditur8 is dassrfi8d undar tha following activity hgading..
Charitable aciivibes expenditure comprises those ¢o$ls inGurred by the charty in the delivery of its activrties
and seTrices for Ils beneficrdries. 11 includes both costs that can be all¢xaled directly lo suth actiwties and
those costs of an indirect TratU￿ necessary lo support them.
Support Costs
Support ￿StS are those fvnctions that a8Si8t the work of the charity but do ￿t directly undertake charrtable
activitifjs. Suppcit costs include inf0miat1c￿ technology, depreciatlon and governance costs whith support the
Charty's activities.
All costs are allocated be￿88n the expenditure categorles of the SOFA on a basls deslgned to reflect the use
of the resource. Costs relating to a particulaf acts'vty are allocated ￿1￿Ctly, others are apportioned on an
appropriate bass eg estimated usage or staff Ilme as set out in Note 9.
Tanglble fixed assets
Tangible fixed asset5 are initially measur¢d al ¢9$1 and subsequently measured al cost. net of depreciation
and any impairment losses. No single equipment purchase with a eosl of below £500 is to be eapitslised.
Depreciation of fixed assets is charged by equal annual instslments commencing with the year of ao]ui$ition
at rates estimated to write off their cost or valuation less any residual value over the expected u*ful live$
are as follows=
Land and buildings
Office equipment
25 ygars
3- Ioyears
The gain or loss arising on the disposal of an as$el is determin8d as the drftergnce b8tsvegn the salg
proceeds and the carrying value of the asset. and is recognised in the statement of finaneial activities.
Cash and ¢a8h oqulya￿nts
Cash and cash equivalents include cash in hand and deposits held wth banks wlh original maturities of three
months or less.

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Accountlng pollcles
(Continued)
Flnanclal Instruments
The charity has elected lo appty the provislons of Section 11 'Basic Financial Instruments, of FRS 102 to all of
its financial inslnjments.
Flnancial instruments are recognised in the charity's balance sheet when the charity becomes paty lo the
conlraclual provisions of the instrument.
8aslc financial assets
Basic financial assets, which include debtors, cash and bank balances and funds invested in fixed term
deposit accounts, are In￿'allY measured al transaction price induding tran&%tion costs and are subsequently
carried at amortised ctssl 118ing the effective interest method.
Basic Ilnancial Ilabilities
Basic financial liabilities, including trade and other creditors are initially r8¢09nised al transaction price.
Financial liabilities classified as payable within one year are not amortlS8d.
Debt instruments arg subsequently carried at amortised tost, using the effective interest rate rnetr￿d.
Trade creditors are obligations to pay for goods or services that have been acqulred in the ordinary course ol
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as n0n-cu￿ent liats'lilies. Trade creditors are reco9nised initially at
transaction price and subsequently measufed at amorb.sed cost using the effective interest method.
Employ•• benefits
The wsl of any unused holiday entitlement is recognised in the period in whith the employee's serv￿e8 are
received.
Retlromgnt bonèffts
For defined contribLrtion schemes the amount charged to profil or bss is the conlribub'ons payable in the year.
Differences befvleen contributions payable in the year and contributions actually paid are shown as ather
accruals or prepayments. The liability and expense is allocated lo funds based on which projoct the
respective employ￿ aro involved in.
Multi-omployer plans
Contributions are recognised in profil or loss in the period to which they relate as there is insufficient
information available lo use defingd benefit accounting. A liability is recognised for ￿ntributIOnS arising from
an agreement with the mulli-employer plan that determines how the charty will fund a defiut. Contributions
are discounted when they are not expected to be Settled wholly within 12 months of the period end. The
lialJ'lity and expense is allocated to funds based on which project the respective employees are involved in.
Incomg from donatlons and 1ggac10S
Restrlctod
funds
2026
Restrlctod
fundy
2025
Donation8 8nd glfts
3,708
2,145
.23-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Income from Investmonts
Unra5trl¢t•d Unrgstrfcted
fvnds
funds
2026
2025
Other income
10,718
Al of the charills investment income arises from money held in Interest bearing deposit 8ccounts.
-24-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Income from charltab19 actfvft19S
Voluntary
Shetland
Actlon Befriending
Shetland Schemes
Marketvolunteerlng
House
Carers
Other
supplement
ary projects
and
activities
2026
Totsl
2026
2026
2026
2026
2026
2026
Perfornian￿ related grants
Olhgr income
Less.. deferred income
380,144
29,364
143,966
110,000
112,108
3,557
3.794
783
87.411
16,789
728.872
159,024
17201
1720}
409,$08
143,966
222,108
2,837
4,577
104,180
887.176
Analysls by fund
Unrestricted fvnds
Restricted fiJnd$
29,364
380,144
43,428
178,680
72,792
814.384
143,966
2,837
4.577
104,180
409,508
143.966
222,108
2,837
4,577
104,180
887,176
-25-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Incom¢ from Charltsble actlvllle$
(Contlnued)
Pgrformance related grants •naty$is
Voluntary
Sh￿and M4rkeiHou80 VoluntsevfjNJ
A￿On BefrlendlrwJ
Shetland
8ch8me8
Othèr
$upplementary
proi*c15 and
a¢￿Vit
2026
Totsl
2026
2028
2026
2026
2026
2026
Scoth'sh Gov8mment
Shetland Islands Council
She118nd Charitsble Trust
VAS FD
Shared Care Scotland
Other
195,520
3.557
199,077
117,4061
298,212
87,411
32,988
128.590
17,000
78,000
134,406)
5,212
105,000
110.000
87,411
32,988
79.624
48,966
380,144
143,966
110.000
3,557
3.794
87,411
728.872
2025
2025
2025
2025
2025
2025
2025
Scottish Govemmènl
Shetland Islands Council
Shetland Charitsble Trust
VAS FD
Shared Care Scdand
other
97,240
78,030
175,270
39,800
31)0,100
71,944
39,536
56,786
17,000
69,800
22,800
37,000
93,100
100.200
71.944
39.536
32.769
24,017
190.340
119.569
100.200
102,047
99,338
71,944
683,438
-26-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Income from charitable activities
Icontinugdl
In line with Charibes SORP IFRS 1021 the grants above are induded wf(hin charitsble income on the basis
that they are perfomancè-rèlated grants where the income is conditional on delivering certain leveL8 or
volumes of a serviee as in a service level agreement.
-27-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Income fn>m eh•ritsble activilies
{Contlnuedl
Prevlous year:
Voluntary Shetland
Actlon Befrfènding
Shetland Schemes
MarketVolunto8rlng
House
Carors
Other
$upplement
ary projects
and
adlvltles
2025
Total
2025
2026
2026
2026
2025
2025
Perfomiance related grants
Other income
Less." deferred Income
190,340
57,102
119,569
5,962
100,200
99,321
102,047
99.336
1,950
16,779)
71.944
2,008
683,436
166,343
{7,6961
191n
247,442
125,531
199.521
101,130
94,507
73,952
842,083
Anatysls by fund
Unrestricted funds
Restricted furKIs
57,102
190,340
29,579
169,g42
86,681
755,402
125,531
101,130
94,507
73,952
247.442
125,531
199,521
101.130
94,507
73,9S2
842,083
-28-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Expendlture on charltsble actlvltles
Voluntary
Shotland
Actlon Bèfrléndlng
Shetland Schemes
Mark•tVolunteering
House
Carerg
Other
Supplèment
ary prolects
and
activities
2026
Total
2026
2026
2026
2026
2026
2026
Dlrect costs
Staff costs
Activites undertaken directly
318,232
26,461
120,291
25,593
51,161
53,734
5,808
41,319
16,065
982
511,5S7
148,089
344.693
145.864
104,895
47,127
17,047
659,646
Grant fijndlng of advlties Isee note 61
Support
Govemance
91.706
91,706
177,863
17,652
7.850
17.652
170,213
369.995
145.884
275,108
47,127
108,753
946,867
Anatysls by fund
Unrestricted funds
Restricted funds
Endowment funds
4,257
365.738
90,436
178,517
6,155
94,693
846.019
6.155
145,884
47,127
108,753
369,995
145,884
275,108
47.127
108,753
946,867
-29-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Expondlture on charltablg actlvhles
(Contlnuedl
Prevlous year..
Volunlary Shotland
A¢tlon Befriending
Shatland Schemes
MarketVoluntoorSng
House
Carer5
Other
Supplement
ary projocts
and
activllles
2025
Total
2026
2026
2025
2025
2026
2025
Dlrect costs
Staff costs
Activiles undertaken direcuy
208,106
26,994
105,000
21,405
50,807
116,364
106,207
5,715
30,577
47,442
7,667
6,509
508,364
224,429
235,100
126,405
167,171
111,922
78,019
14,176
732,793
Gfanl funding of th'ties (see note 61
Support
Governance
102,547
102.547
176,880
17.620
5,882
17.620
170,998
258,602
126,405
338,169
111,922
78,019
116,723 1,029,840
Analysls by fund
unrestn.cted funds
Reslricled lunds
Endowment fijnds
20,042
238,560
90,838
175,331
72.000
110,880
846,960
72,000
126,405
111,922
78,019
116.723
258.602
126.405
338,169
111,922
78,019
116,723 1,029,840

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARGH 2026
Grants pald
2026
2025
Cornmunity mentsl health & welllbeing grants
Shedand pre S￿91 play grants
Vaila ftjnd grants
87,411
74,072
28,325
150
4,295
91,706
102,547
For infomialion on the other giants please $89 furth¢r details on the Trustees Report on pages 4 & 5 or tho
company's website..
Com
Mental Health
n Shelland
Ilbein
Fund forAd I
ee
Dlroctors
None of the directors lor any persons connected wrth them) re¢elved any remuneration or benefits from the
charity during the year.
Employfjes
The average monthly number of employees durin9 the year was..
2026
Number
2025
Number
anagement
Administration
Project worke
Manual
10
Total
18
16
Employment costs
2026
2025
Wages and salaries
Social security costs
other pen&on costs
428,749
42,779
40,029
425,092
42.514
40.758
511.557
508.364
31

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Employeèg
Icontlnu•dl
The number of 8mpJoyees vthose annual remuneration was more than £60.000
is as follows-.
2026
Number
2025
Number
£80,000- £90,000
Remuneratlon of key management personnèl
The remuneration of key management personnel was as follows..
2026
2025
Aggregate compensatlon
157,984
150,347
The key management personnel of the charity comprise the dlreclor8. the executive officer and the VAS
Deputy and Facilities Manager.
There are no olhw related party transaclions.
Support costs
Support Governance
costs
costs
2026
2025 Basls of allocatlon
Depreciation
IT costs
93,644
84,219
93,644
84.219
92,407 Cost
84,473 Cost
Athjil fees
Accountancy
14.040
3.612
14,040
3,612
14,220 Cost
3,400 Cost
177,863
17,652
195,515
194.500
10 Net nv)v•ment In funds
2028
2025
Nel movement In funds is ststed after charglng
Auditors remuneration
Audr( fees
Accountancy services
Depr￿lat￿n of owned tsngible fixed assets
14,040
3,612
93,644
14,220
3.400
92,407
11 Taxatlon
HMRC recognises the company as a Scottish charity and it 1$ not liable to Corporation Tax on its charltable
activities.
-32-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
12 Tanglblo flxod assets
Land and
bulldlng5
Total
gqulwr￿nI
Cost
At 1 April 2025
Additions
Disposal$
2.270.547
67.665 2.33B.212
5,267
5,267
118,0641
118,0641
At 31 March 2026
2.270,547
54,868 2,325,415
D8preclatlon and impaimient
At 1 April 2025
Depreaalion charged in the ye8r
Eliminated in respect of disposals
1,812,910
90,822
61,488 1,874,398
2,822
93,644
118,064}
118,064}
At 31 March 2026
1,903,732
46.246 1,949,978
Carylng amount
At 31 March 2026
366.815
8,622
375,437
At 31 Mareh 2025
457.637
6,177
463,814
The purchase of the propety wa8 grant funded and th8re is a burden on the ￿tle of the propety which means
it cannot be us8d for investsnenl purposes or lo obtain wurily. The value will be recovered through the
charitsble activitie5 carried out in Market House.
13 Dobtors
2026
2025
Amounts falllng due wlthln one yfrar.
Other debt¢ys
Prepayments and accrued income
2,598
50.126
2,7S4
53,101
52,724
55,855
14 Credltors.. arnounts falllng due wlthln one y*ar
2026
2026
Notes
Trade creditors
Deferred grants
Other creditors and acGruals
17,490
720
20,542
5,138
7,696
18,148
16
38,752
30,982
-33-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
15 Re$trlct•d capltal funds
The restricted capital fund relates to the building 81 Market House. The balance is being reduced as the
assets depreciate by transferring an equivalent amount betsveen capital fijnds and unrestrTCted funds.
The capital maintenance grant relates to a grant from Shetland Charitable Trust to lund both capltsl and
maintenance al Market House. The resources expended in the year are in relation lo maintenance costs
incurred.
At 1 Aprll
2025
Rgsourco5
expended
Transfets At 31 March
2026
Restricted capitsl fijnd
Capital Maintenance Grants- SCT
459,422
50,859
{86.919)
372,503
44.704
16,1551
510.281
16,155}
186.9191
417,207
Prevlous year.
Al 1 Aprll Resource8
2024
exponded
Transfvvs At 31 Ma￿kn
2026
Restricted c8pilal fund
Capital Maintenano Grants- SCT
552,876
122,859
193,4541
459.422
50.859
172.0001
875,735
172,0001
193.4541
510.281
16 D•f•rr•d In¢omo
Induded within cr8ditors is £72012025 - £7,6%1 from YPI Scotland 12025 - Shared Care Scotland and YPI
Scc)tiand l in relatron to future years. fvnding. These grants have been deferred because they are subject to
performance related eondilions and do not run concurrent to the a¢¢ounting year. As the charity is liable to
deliver a servic8 in the next year then the eorresponding income is deferred until the performance tx)nditions
have been mel.
The full amount of deferred income of £7,696 from 2025 was released to Income in th8 year.

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARGH 2026
17 Unrostrl¢ted funds
The unrestricted funds of the charlty comprise genefal unrestricted funds and designated funds which have
been sel asde by the directors for specific purposes. These are made up as follows..
At 1 April
2025
Incoming Rgsources
resources
expended
Transfers At 31 March
2026
Unrestricted reserve
Capital Assets Intemally
Funded
staff Development
Staff Heamh and Wellbeing
Supporting Operatsonal Aetivtiy
Room Refijrbishment
Market House Contsngency
90,556
83,510
190,2291
41.834
125,671
2.760
12,302
18,628
51,776
3.927
15,847
3.282
6.042
11.650
16,946
51.778
1,797
57.152
18521
11.6821
{2,1301
41,305
195,796
83,510
{94,6931
88.421
271.034
Previous year:
At 1 Aprll
2024
Incomlng Resources
rnsources
expended
Transfers At 31 Mirch
2025
Unrestricted reserve
Capitsl Assets Internally
Funded
Staff development
Staff Heatth and Wellbeing
Supporting Operational Adivity
Proje￿ Funding
Room Refurbishment
Market Hou$e Conllnger
64.708
86,611
1107.3401
48.577
90,556
3,732
14,400
20,000
70,000
20,000
1972)
2,760
12,302
18,628
51.776
(2,0981
1,4421
70
118,224)
{20,000)
3,927
15,847
3,927
15,847
192,840
86,681
1110,8801
27,155
195,796
-35-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
17 Unrestrlcted funds
{Contlnue411
The director8 reviewed the unrestricted fund$ and agreed a transfer of self generated inGome to the Market
Hou$e Contingency Fund. The designated funds comprrse of..
Capltal Assets Intemally Fundèd- Represents the amount the Charlty has funded from reserves, net of any
apital grants received
Staff Dovelopmont - Funds have been used for staff training, vthich is not supported elsewhere, in
recognition that on-going training and development is important for staff. The balance is based on training
ngeds for the next 3 years.
Staff Health and Wellbelng Funds have been used to support the buy in of an Employee Assstance
Programme, covering the costs of Occupational Health appointments for staff and team group activitoes.
Supportlng Operallon•l Actlvlty- Funds have deslgnaled to support fijture tbnding $hortfall$
Room Refurbl$hments- Funds havg been designated lo stjpport Market House r￿M refurbishments
M8rk•t House Contlngeney - Funds have been used lo purchase a new pdnlerlphotocopier amountirg to
£4,740 Iwhieh has been capitslised and the fvnding transferred out accordingly) and a further deSig￿lOn ol
£46,045 made in the year from the unrestricted reserve. This leav8s a ¢lo*ng balance of £57,152 ￿lch will
support any lulur8 funding shortfalls in the Market House budget.
The remaining balance of £125,671 remain8 8S the unreslrictgd reseN¢ and this continues to fall short of the
target set.
-36-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
18 Rgstrfctsd funds
The restricted funds of the charity comprise the unexpended balances of donats'ons and grants held on trust
subtecl to specific conditions by donors as lo how they may be used.
At 1 April
2025
Incomlng Resources
rèsources
ex￿nded
Transfers At 31 March
2026
VoluntaryA¢tion Shetland
Shetland Charitable Trust
Lottery Grant
Sheuand Community Benefft
Fund
Scottish Governmént
Pension Deficit
107.837
46.914
196.5891
140,9191
11,248
5,995
32,710
195,520
132,7101
(195.5201
{1,5671
498
(1,0691
VAS
Fund Dislribulion
Training Budget
Projects
SheUand Voluntary Action
Devel¢)pment
4,815
2,057
123.616
87.411
191,7061
{541
116,8171
520
2,003
123,568
16,769
53,357
(1761
53,181
Market House
SCT Market Hous8- Running
Costs
178,680
{178,5171
163
Projects
ShetlandBefrlending
Schemes
SCT Children and Young
People
16+
Befriending and Peer Support
General Sheyand Befriending
Scheme
7,920
12,349
60,000
35,000
48,966
159,6231
136,84SI
148,9661
8,297
10,504
43,747
3,708
14501
47,005
Shetland Carers
Shetland Charitable Trust
Fund Dislribulion
GenerallDonalion$
Creative Breaks
sic
29,038
5,212
39,768
783
16,7801
134,4061
17,2541
139,7681
11051
26,
6.603
6,780
39,192
7,281
4,786
327,907
818.092
1846.0191
498
300,478
-37-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
18 Restrlcted funds
IContInu￿)
Prevlous year:
At 1 Aprll
Incomlng Resource8
2024 resources
expended
Transfors Al 31 March
2026
VoluntaryActlon Shetland
Shetland Charitable Trust
Scottish Govemment
Penston Defieil
IS,5231
15,9831
11,463}
93.100
97.240
1109,759
{128,8011
22,182
37.544
{1041
11,56n
VAS
Volunteering
Fun(J Distribution
Training 8udget
Projects
Sheuand VoluntaryAction
Dovetopment
Parent Llnk
9.504
35,418
2,813
127,221
101,130
71,944
{111,9221
1102,5471
17561
15,6131
1,288
4,815
2,057
123.616
2.008
53.528
7,636
{1711
17,6361
53.357
Al*￿•t Hous•
SCT Market House- Running
Costs
169,942
1175,3311
5,389
Projects
ShetlandBefrlendlng Scheme
SCT Children 8nd Young
People
16+
BefllerKling and Peer Support
General Sheuand Befriending
Scheme
3.140
15.296
1,353
60,939
30,600
33,992
{56,1591
(33,5471
135,3451
7,920
12,349
42,955
2,145
(1,3531
43,747
Shotlènd Carnrs
Shetland Charitable Trust
Better Breaks
Fund Distribution
GenerallDonations
Creative Breaks
sic
22,421
5,374
37,000
1,700
21,346
250
11,411
22,800
{30.3831
17,409)
{21.3461
11,9391
19,265}
{7.8781
29,038
335
8.627
4.634
24.070
(335
6,603
6,780
39.192
351,021
757,547
1846,9601
66,299
327,907
-38-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2026
18 Rgstrictsd funds
(Continued)
De¥criplion, nature and purpose$ of each fund..
Voluntary Adion Shetland (VASI is the umbrella organisatson prowding a wide range of services lo voluntary
organisations and third sector in Shetland. Each department supports activity as described below..
Voluntary Action Shetland Supports dev81opmenl of the Third Sector and delivers work und8r the four
core activities.. To be the central source of kno%￿edge, To be the voiee, To build eapacty and To eonnect.
VAS- Penslon Deficlt- See note 20 foT fvrther detail$
Fund Dlstrlbulion - This department has been used for any fund distribution activity. The last 12 months
funds have be￿ dislribuled via Communrties Mental Health and Kèllbeing Funding for Adults arKI The Vaila
Fund
Tralnlng 8udget- This fund has been used to support Third Sector Training activity.
PfoJects- Funds have been used lo support the climate café and VAS Communtty Website
Shetland Voluntsry Adlon Dgvalopm8nt- Funds have been used to cover costs of staff membership with
Ihe Assoeialion of Charity Independent Examiners to provide the Independent Examination of Accounts
service lo charities and organisations.
Market House - Funds used to support the day to day costs that have oc¢urred in keeping Market House in
working order, supporting charitsble tenant organisations with low cost facilities and support.
Shetland Befriending Scheme - This project provides one to one support to individuals in the community.
Demand eonlinues to ￿ high for the servits and staff have been working on recruiting more volunteers to
meet local need.
Shetland Carers - This project woths closely wrth Shetland Islands Council and NHS Shet18nd to ensure that
carers are supported so they can contsnue to care, and are able to do so in good health and have 8 lffe
alongside their caring responsibilities. Short Break grants and respilality options are available to offer unpaid
¢ares a short break.
19 Analysls of net assets between funds
Unrestrlctod
Income
fund$
2026
Restslctod
Income
funds
202$
Raslrlcted
capital
funds
2026
Totsl
2028
At 31 March 2026..
Tangible assets
Current assetsllliabilrties}
Provisions
1,301
269,733
374,136
43,071
375,437
614,351
{1,C691
301,547
{1,0691
271.034
300,478
417,207
988.719
.39-

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
19 Analys18 of net assets bgtwoen funds
{Contlnued)
Unrastrlet•d
Income
funds
2025
Restrtct
Income
funds
2025
Restrlctsd
capltsl
funds
2025
Total
2025
At 31 March 2025:
Tangible assets
Current assetsllliabiliti8s)
Provisions
2,759
193.037
461.055
49,228
483,814
571,737
{1,5671
329,474
11,567}
195,796
327,907
510,281
1,033,984
20 Retlrement ben•fll schemes
Doflned contrlbutlon schemes
The chanty operates a defined conlribulion pension scheme for all qualitying employees. The assets of the
scheme are held separately from those of the charity in an Independently administered fund.
The charge to income and expenditure in respect of d8fined eontribution schemes was £22,425 12025 -
£23,266).
Contributions lotaling £nil12025- £nil} were payable to the fund at the year end and are induded in ueditors.
Defined boneflt schomos
SCHEME: TPT R8tlremènt Solutlons - The Growth Plan
The company partiapates in the scheme, a multi-employer scheme which promdes benefits to some 521 non-
associated participatsng employers. The scheme is a defined benefft scheme in the UK. 11 is not possible for
the company to obtsin SLrffiaenl infomiation to enable il to account for the scheme as a defined benefft
stheme. Therefore il accounts for the scheme as a defined contribution schem8.
scheme is subject lo the funding legislation outlined in the Pensions Act 2004 whfeh came into force on
30 DeCeM￿r 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial
Standards issued by the Financial Reporting Council. set ¢yJt the framework for funding defingd benefit
occupatlonal pension schemes in th8 UK.
The scheme is Classified as a 'last-man standing arrangement.. Therefore the company 1$ polen11811y liable for
other participating employers, obligations if those employers are unable to meet th8ir share of the scheme
deficit following wthdraw81 from the schome. Parb'cipaling employers are legally requirgd to meet the¢r share
of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
20 Retlrement benefit scheme$
Icontlnuod)
Valuat￿￿
A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets
of £514.9m, liabilities of £531.Om and a deficit of £16.1 m. To eliminate this fvnding shortfrdll, the Trustee has
asked the participating employers lo pay additional contributions lo the scheme as follows..
Deficlt contdbutlons
whole scheme - all em
lo
From1A
ri12025 to 31 Mar¢h 2028..
grs
£2,100.000
r annum
(payable monthl I
Unless a concession has been agreed with the Trustee the lemi to 31 March 2028 applies.
Note that the scheme's previou$ valuation was carried out wth an effective date of 30 September 2020. This
valuation showed assets of £800.3m, liabililies of £831.9m and a deficit of £31.8m. To eliminate this funding
shortfall, the Tnjstee asked the participating omFloyers to pay addits'onal contributions to the scheme as
follows..
Deflclt contrlbutlons
whole scheme- all em
From 1 A ri12022 10 31 Janua
2025.,
lo
Ors
£3,312.000
r annum
Ipa
able monlhlyl
Th8 recovery plan contribuitons are allocatèd to each participating employer in line with Iheir estimated sharè
of the Series l and Series 2 scheme liabilities.
Funding poI￿Y
Where the scheme is in deficit and wher8 the con7pany has agreed lo o defiul funding 8rrangement the
company recognises a l￿bIlity for this obligation. The amount recognised is the nel present value of the deficit
reduction contributions payable under the agreement that relates to the deficit. The P￿sent value is
calculated using the dI￿unt fate detailgd in these di8cIosLfre8. The unwinding of the discount rate is
recognised as a finan￿ cost.
Other
infom?alion
PRESENTVALUES OF PROVISION
31 March 2026
l£sl
31 March 2025
Its)
31 March
2024
{£sl
1,483
Present value of provision
1,069
1.567
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Period Ending Period Ending
31 March 2026 31 March 2025
l£sl
{£sl
1.567
1,4e3
62
39
(5591
(1.4911
10
1.546
1.567
Provision al start of period
Unwnding of the discount fador linteresl expense)
DeficAI contribution paid
Remeasurements- impact of any change in assum
tions
Remeasurements- amendments to the contribthion schedule
Provision at end of period
1,069
-41

VOLUNTARY ACTION SHETLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
20 Retlremont beneflt schemes
{Continued}
Key assUMpt￿nS
2026
2026
DI￿)unt rate
4.92
The discount rates shown above are the equivalent Sing￿ discount rates ￿[Ch, %then used to discount tho
future re￿Very plan conlributK)ns due. would give the same results as using a ￿11 AA Corporate yield
curve to diseounl the same recovery plan contribution5.
INCOMEAND EXPENDITURE IMPACT
Period Ending Period Ending
31 March 2026 31 March 2025
£$1
39
Inlerest ex
Remeasurements- impact of an
chan
e in assum
lions
Remeasuremenls- amendments to the conlnbulion schedule
nse
62
1)
10
1,546
21 Events after tho reporting date
In Aprfl 2026 The Shetland Befriending Scheme transitioned lo become an independent charity, separating
from VoluntsryAction Sh8lland.
Also in April 2026 the carers 8dvI￿, support, and information service transferred from the VAS Shetland
Carers projact to Shetland CareAltgndant Scheme ISCASI.
22 Cash generntod fromllab$orbed by) operations
2026
2026
Deficit for the year
{45,2651
(185,612)
Adjustments for:
Investment income recogrii5ed in stslemonl of financial aclivrties
{GaSn}￿O$s on disposal of tangiblg fix8d assets
Dopreaation and imp8imient of tangible fixed assets
{10,7181
2.019
92,407
93,644
Movomonts In worklng Capltal:
D￿reaSe in debtors
InGreaselldecreasel in creditors
Increas&lldecreasel in provisSons
{Decrea$&)linerease In deferred income
3.131
14,746
{4981
{6.9761
76,936
17,2511
104
2.147
Cash gfrngratsd fromllabgorbed by) oporations
48.064
119,2501
-42-